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Unilever will slim down but not spin off food business, says chief

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Hein Schumacher to press ahead with IPO of ice-cream unit as part of turnaround plan for FTSE 100 consumer group

Unilever will slim down but not spin off its food division, its chief executive has said, as the London-listed consumer goods group presses ahead with the listing of its ice-cream unit. Hein Schumacher, who has launched a turnaround plan for the FTSE 100 group, has identified several food brands to “prune”, amounting to about £1bn in sales revenue, he told the Financial Times. Unilever’s food business generated €13.

” Unilever unveiled a new set of strategic priorities on Friday, including focusing investment in its best-performing emerging markets such as India, Indonesia and Brazil, accelerating growth of its premium brands in the US and taking its high-margin beauty and wellbeing businesses international. The company also reiterated its medium-term target for mid-single-digit sales growth and volume growth of 2 per cent. The company expects to achieve €800mn in cost savings by the end of next year.

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